Official Dubai property price index to launch in September
The property price index will cover sales and rental prices from 2008…
A new property price index is set to launch in September, which will allow residents and potential residents to compare prices for renting and buying across an array of Dubai neighbourhoods.
Called Mo’asher, it will be a joint venture between Dubai Land Department (DLD) and Property Finder. The online index will be released on a monthly basis as of the third week of September 2019.
Within it, anyone will be able to see real prices for properties sold and rented across areas of Dubai. The information, which will date back to as early as 2008, will include the average price per sale, average price per square foot per sale and average annual rent for freehold, non-freehold and leasehold properties.
The index will be available on both DLD and Property Finder’s websites, following DLD’s aims to move into the digital landscape and be more transparent about the real estate market. Viewers will be able to see details of properties in each area, as well compare each area in Dubai.
Lynnette Abad, Property Finder’s Director of Research and Data, said: “The index is based on a scientific methodology which is being powered by an enriched and fully comprehensive data set provided by Property Finder and Dubai Land Department.”
The introduction of the index hopes to enhance transparency in the Dubai real estate market by providing accurate pricing data to consumers. This way, the renters and buyers can make more informed decisions during their real estate journey.
“Mo’asher will be the source of truth when it comes to real estate prices and trends in Dubai, therefore investors will have confidence knowing the pricing trends they are receiving is not speculative but rather factual based on the index,” Abad continued.